Act.txt

Time period Assumption

Economic life can be divided into artificial time periods.
Matching Principle

Expenses matched with revenues in the period when efforts are expended to generate revenues
Revenue and Expense Recognition

In accordance with generally accepted accounting principles
Revenue Recognition Principle

Revenue recognized in the acocunting period in which it is earned.

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Anonymous

84043

Card Set

Act.txt

Description

Accounting Principles

Updated

2011-05-05T22:32:55Z

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